Nomad Foods Ltd (NOMD) Receives $23.00 Average Target Price from Analysts
Shares of Nomad Foods Ltd (NYSE:NOMD) have earned a consensus rating of “Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.00.
Several brokerages have commented on NOMD. Zacks Investment Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 8th. TheStreet upgraded shares of Nomad Foods from a “d” rating to a “c” rating in a research report on Tuesday, October 16th. Wells Fargo & Co boosted their target price on shares of Nomad Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. UBS Group boosted their target price on shares of Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Barclays started coverage on Nomad Foods in a research note on Friday, October 5th. They set an “overweight” rating for the company.
Shares of NYSE NOMD opened at $19.78 on Monday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.32 and a beta of 0.89. Nomad Foods has a one year low of $15.11 and a one year high of $21.45. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.60 and a current ratio of 1.10.
Large investors have recently added to or reduced their stakes in the company. Fort L.P. acquired a new position in shares of Nomad Foods during the 2nd quarter worth $126,000. Toronto Dominion Bank acquired a new position in shares of Nomad Foods during the 2nd quarter worth $158,000. Carlson Capital Management acquired a new position in shares of Nomad Foods during the 3rd quarter worth $203,000. Raymond James Trust N.A. acquired a new position in shares of Nomad Foods during the 3rd quarter worth $206,000. Finally, First Mercantile Trust Co. raised its stake in shares of Nomad Foods by 48.4% during the 2nd quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock worth $215,000 after buying an additional 3,650 shares during the last quarter. 73.48% of the stock is owned by institutional investors and hedge funds.
About Nomad Foods
Nomad Foods Limited manufactures and distributes frozen foods in Western Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.
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